13th May 2016 06:09
LONDON (Alliance News) - Soft drinks bottler Coca-Cola HBC AG on Friday said reported volumes were broadly stable in the first quarter, with good growth in emerging markets offsetting a weaker performance in developing and emerging countries.
The FTSE 100-listed company said total volumes grew 0.1% in the quarter to the end of March, with developing markets volumes up 1.9% and emerging markets growing 1.3% year-on-year, offsetting a 2.7% decline in established markets volumes.
Net sales revenue, however, declined 2.7% in the quarter, primarily driven by currency weakness. In constant currencies, net sales revenue increased 2.0%.
Coca-Cola HBC said it saw good growth in Nigeria, Romania and Poland in the quarter, which was offset by a weaker performance in Russia. Premium sparkling brands, water and energy drinks all performed well within its portfolio, it said.
Dimitris Lois, Coca-Cola HBC's chief executive, said the group had a "good start" to 2016, adding the group was encouraged by ongoing volume growth in emerging and developing markets and improving underlying trends in established markets.
"We are confident we have the right initiatives in place to continue our progress in the remainder of the year," Lois added.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Coca-Cola HBC